Cabot Stock Price, News & Analysis

Cabot Corporation (NYSE: CBT) has announced the groundbreaking of a new specialty compounds facility in Cilegon, Indonesia, which will add 20,000 metric tons of annual capacity for specialty compounds. The facility aims to meet rising demand in the masterbatch and conductive compounds market, driven by economic growth and increased production of electrical devices. Highlighting sustainability, Cabot plans to utilize the latest technology and energy reuse strategies in the facility, aligning with its goal of achieving net zero carbon emissions by 2050.

Cabot Corporation (NYSE: CBT) reported a diluted loss per share of $1.57 for Q1 FY2022, despite an adjusted EPS of $1.29, a 9% increase year-over-year. The company achieved net sales of $968 million, up from $746 million in Q1 FY2021. Strong EBIT results of $85 million in Reinforcement Materials and $52 million in Performance Chemicals were noted. Cabot announced plans to acquire a manufacturing plant in China to bolster growth in Battery Materials, alongside returning $40 million to shareholders through dividends and share repurchases.

On January 14, 2022, Cabot Corporation (NYSE: CBT) announced a quarterly dividend of $0.37 per share, payable on March 11, 2022, to stockholders of record as of February 25, 2022. This dividend reflects the company’s commitment to returning value to shareholders amid their operations in specialty chemicals and performance materials. Cabot is a key player in various sectors, including carbon black and activated carbon.

Cabot Corporation (NYSE: CBT) will release its first quarter operating results for fiscal 2022 on January 31, 2022, after market close. A conference call and live webcast to discuss these results will take place on February 1, 2022, at 8:00 am ET. The call will be accessible on Cabot's website and archived for later viewing. The company specializes in high-performance materials such as rubber, specialty carbons, and activated carbon, serving various industries globally.

Cabot Corporation (NYSE: CBT) has announced its commitment to align its sustainability goals with the Paris Climate Agreement, aiming for net zero emissions by 2050. The CEO, Sean Keohane, emphasized this ambition as part of the company’s strategy to enhance its competitive advantage while promoting environmental responsibility. Cabot aims to reduce greenhouse gas emissions intensity by 20% from a 2005 baseline, having achieved 77% of this goal to date. The company plans to utilize the Science Based Targets Initiative methodology for setting interim targets.

Cabot Corporation (NYSE: CBT) hosted its 2021 Investor Day in Boston, presenting its new growth strategy titled Creating for Tomorrow. Key focuses include investing in advanced growth, innovation, and optimization. The company anticipates generating over $1 billion in discretionary free cash flow over the next three years. The three-year financial targets involve an adjusted EPS CAGR of 8-12% and promising growth in its Reinforcement Materials and Performance Chemicals segments. The strategy aims to elevate shareholder value through sustainable practices and operational excellence.

Cabot Corporation (NYSE: CBT) has signed a Memorandum of Understanding (MOU) with IFF Health and Biosciences to develop and commercialize sustainable reinforcing additives for rubber products. This collaboration aims to reduce greenhouse gas emissions and increase renewable bio-based content in rubber applications. Utilizing IFF’s Nuvolve™ engineered polysaccharide, developed from European sugar beets, Cabot will lead the project, integrating it with its reinforcing carbons. This partnership aligns with Cabot's commitment to sustainability and innovation in the rubber industry.

One Equity Partners has signed an agreement to acquire Norit Activated Carbon from Cabot Corporation (NYSE: CBT). Norit specializes in activated carbon products used across various sectors including renewable energy, pharmaceuticals, and water treatment. With operations in North America and Europe, the global activated carbon market is projected to grow at a CAGR of ~9%, driven by rising regulatory standards. The acquisition aims to enhance Norit's growth through geographic expansion and innovation, with closure expected by the end of Q1 2022.